Tejon Ranch returns to profit as Q2 revenue rises
Tejon Ranch returns to profit as Q2 revenue rises
Overview
US real estate and agribusiness firm's Q2 revenue rose yr/yr, returning to profitability
Adjusted EBITDA for Q2 increased, aided by land sale and lower corporate expenses
Company cites improved performance from joint ventures and higher occupancy in key segments
Outlook
Company expects to continue commercial and industrial development, including opportunistic land sales
Net income will fluctuate with timing of land sales, leasing activity, and commodity prices
Impact of rainfall on crop yields not expected to be known until harvest
Result Drivers
LAND SALE - Q2 revenue benefited from the Dedeaux Properties land sale, launching a new industrial joint venture at Tejon Ranch Commerce Center
COST DISCIPLINE - Lower corporate expenses contributed to improved profitability, with prior-year period including non-recurring shareholder activism costs
SEGMENT GROWTH - Multifamily, mineral resources, and ranch operations segments all grew, supporting overall results
Company press release: ID:nGNX3hgyh1
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $14.26 mln | $8.64 mln (1 Analyst) |
Q2 EPS |
| $0.10 |
|
Q2 Net Income |
| $2.63 mln |
|
Q2 Adjusted EBITDA |
| $8.40 mln |
|
Q2 Operating Income |
| $348,000 |
|
Q2 Pretax Profit |
| $3.48 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Tejon Ranch Co is $26.25, about 59.6% above its August 5 closing price of $16.45
Reuters Recommended Reads
Aug 5 - Rayonier Q2 adjusted net income, EBITDA beat estimates on wood products pricing, strong southern timber volumes
Aug 3 - Alexander's Q2 net income surges on property sale gain
Aug 4 - StoneX forecasts US 2026 corn yield at 184.8 bushels per acre
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)